1h breakout and price near the weekly 50EMA!
Hy guys!
All the info is in the chart but to sum it up:
Bitcoin broke out of a 1h consolidation(triangle) and bulls probably will attack the weekly EMA 50, so its mandatory to watch the 7835USD level, before making a decision! In case bulls can push through, we can consider to go long if aggressive, however it could be better to wait for more confirmation and eventually trade a Pullback in case of a fakeout.
I wouldn't consider to go short!
PS: No matter how you trade, always use a SL and only risk a small percentage of your account!
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All the info is in the chart but to sum it up:
Bitcoin broke out of a 1h consolidation(triangle) and bulls probably will attack the weekly EMA 50, so its mandatory to watch the 7835USD level, before making a decision! In case bulls can push through, we can consider to go long if aggressive, however it could be better to wait for more confirmation and eventually trade a Pullback in case of a fakeout.
I wouldn't consider to go short!
PS: No matter how you trade, always use a SL and only risk a small percentage of your account!
---------------------------------------------------------------------------------------
I am trading on the best and most trustful crypto exchange PHEMEX!
🙏 Affiliate Link, with Bonuses:
Leverage Trading:
🔥 PHEMEX 60USD BONUS if you deposit 0.2BTC: phemex.com/web/user/register?referralCo...
Trade active:
Waiting for price price action near the weekly 50EMA!